Client

We were engaged by a global insurer to optimise their data refresh and reporting processes through the development and implementation of a SQL server-based actuarial database.

Challenge

Our client faced significant challenges in managing their actuarial data efficiently. Duplication of input data, prolonged time for data checks and the absence of a cohesive reporting system were key pain points. They needed a solution to streamline their processes and improve data management.

Approach

Leveraging the client’s existing license for the ‘results-to-database’ component, our team developed a custom-built, browser-based application using SQL. This application was designed to seamlessly import, version and manage assumptions, thereby providing the client with a comprehensive solution. Through close collaboration with the client’s team, we ensured that the solution met their specific requirements and objectives.

Data management processes were significantly improved with the integration of the new application. It enabled the system to link model points, assumptions and results together, facilitating cohesive and insightful reporting. The project was marked by a strong partnership between our team and the client, ensuring that the outcomes aligned with their expectations.

Results

The implementation of the new system yielded impressive results:

  • Reduction in duplication of input data, including assumptions folders and tables.
  • Decrease in the time required for data checks and control through the comparison function in the database.
  • End-to-end lineage of inputs and assumptions results in a single click of a report.
  • Significant reduction in the time taken for Prophet results refresh and reporting output production, from hours to minutes.
  • Improved reconciliation and investigation processes, enabling easier traceability back to model points through results automation.

Testimonial

“MBE’s expertise transformed our actuarial database, streamlining processes and enhancing data management. Their expertise led to reduced duplication, faster checks and improved efficiency, driving positive outcomes for our business.”

Actuarial Manager